The Philippine Tourism Authority (PTA) recently released its financial data covering the first seven months (January-July) of this year, showing a near wipe-out of dependence on subsidies by its entities.
From an annual record-high of P40 million, PTA subsidies amounted to only P281,000 during the seven-month period, PTA general manager Robert Dean Barbers said.
The substantially reduced subsidy means that the PTA would save about P39.78 million which could be appropriated for more tourism infrastructure projects and the creation of more jobs, he said.
"I hope the public would take this good news as silver lining amid the country’s fiscal problem. We would like the people to know that the PTA is an exception to the general accusation that all GOCCs are mismanaged," he added.
Lydia Cosuco, PTA deputy general manager for asset management, said the current PTA leadership is focused on turning the agency into a self-sustaining GOCC by increasing the viability of its entities.
Cosuco said Barbers has pursued effective reforms in the PTA, including improving its entities’ viability by both addressing expense management and income generation.
At present, the PTA operates 13 tourism entities nationwide, including the Club Intramuros Golf Course, San Fabian PTA Beach Resort in Pangasinan, Tagaytay Picnic Grove, Balicasag Island and Dive Resort in Bohol, MacArthur Park Beach Resort in Leyte, Ramon Magsaysay Park in Davao, Banaue Hotel and Youth Hotel in Ifugao, and Hilaga in Pampanga.
The PTA is mandated to spur development of potential tourism destinations in underdeveloped areas, mainly through subsidized hotels and resorts.